$65 profit in BBY
- themoneyloaf
- Apr 9
- 2 min read
Updated: 1 day ago
Happy April!
Squeezing in another win as March came to an end, this time in BBY.
This week:
$65 profit in Best Buy (BBY)
$65 profit in BBY
Throughout the last month I've been trying to take advantage of opportunities here and there without committing too much capital to trades, and BBY provided a great chance to allocate some capital.
I sold the $55 cash-secured put expiring Apr 17 for $110, and the trade hit my profit target and closed roughly 2 weeks later.
I paid $45 to buy back the position, resulting in $65 realized profit, or roughly 60% of max profit.
As the post says, there's not that much to say about the trade.
Ultimately I follow a system which is unremarkable when it works, which personally is what I love about it. I don't want to spend time being “excited” about trades, nor do I want them keeping me up at night.
The best process for me is one where I follow the entry points and enter my closing order for it to be hit at my profit target a few weeks later.
This trade (and all trades in this newsletter) are shared in close-to real time to my private community as updates in my own portfolio (not recommendations). If you're familiar with the basic mechanics of options, you can consider joining the private community to view these updates as well.
And of course the guidance for managing and closing both trades were posted to the community as well.
You can find out more about my private community at the link below.
Closing thoughts & useful links
The broader market finally broke its losing streak, but it's pretty clear we're not out of the current scenario yet.
That said, the VIX has dropped back down to below 30, which possibly signals that there's a little more optimism than a week ago (until things change yet again).
Have a good weekend!
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This article is for educational purposes only. This is my own portfolio which is being managed according to my goals and risk tolerance. Your situation is likely different and you should do your own due diligence before investing in stocks or options.
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